Parke Bancorp (NASDAQ:PKBK) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Parke Bancorp, Inc. (NASDAQ:PKBK)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.46 and traded as high as $30.24. Parke Bancorp shares last traded at $30.10, with a volume of 90,501 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Parke Bancorp in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Parke Bancorp has an average rating of “Buy”.

Parke Bancorp Stock Performance

The firm has a fifty day moving average of $29.00 and a 200-day moving average of $26.46. The stock has a market capitalization of $353.07 million, a price-to-earnings ratio of 8.60 and a beta of 0.48. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Parke Bancorp (NASDAQ:PKBK) last posted its earnings results on Friday, April 17th. The bank reported $0.99 earnings per share for the quarter. Parke Bancorp had a return on equity of 13.02% and a net margin of 28.04%.The company had revenue of $22.99 million for the quarter.

Parke Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, April 3rd were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, April 2nd. Parke Bancorp’s dividend payout ratio is presently 20.57%.

Insider Activity

In other Parke Bancorp news, CEO Vito S. Pantilione bought 1,300 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was purchased at an average cost of $30.37 per share, for a total transaction of $39,481.00. Following the acquisition, the chief executive officer owned 237,429 shares of the company’s stock, valued at $7,210,718.73. The trade was a 0.55% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas J. Pantilione sold 14,675 shares of Parke Bancorp stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $28.29, for a total transaction of $415,155.75. Following the transaction, the insider owned 1,850 shares of the company’s stock, valued at approximately $52,336.50. The trade was a 88.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have acquired a total of 2,000 shares of company stock valued at $59,281 over the last 90 days. 12.97% of the stock is currently owned by insiders.

Institutional Trading of Parke Bancorp

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its holdings in Parke Bancorp by 66.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,147 shares of the bank’s stock valued at $46,000 after acquiring an additional 855 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Parke Bancorp by 44.4% during the second quarter. BNP Paribas Financial Markets now owns 3,251 shares of the bank’s stock worth $66,000 after purchasing an additional 999 shares during the last quarter. CWM LLC grew its position in shares of Parke Bancorp by 251.5% in the third quarter. CWM LLC now owns 3,367 shares of the bank’s stock valued at $73,000 after purchasing an additional 2,409 shares during the period. Byrne Asset Management LLC acquired a new position in Parke Bancorp in the fourth quarter valued at $75,000. Finally, Daytona Street Capital LLC acquired a new position in Parke Bancorp in the fourth quarter valued at $163,000. Institutional investors and hedge funds own 49.69% of the company’s stock.

About Parke Bancorp

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.